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March 28, 2024  
 
 
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SBA Lender Danvers

 

 
Loan Census SBA Loan Info

Entrepreneur Works With Danvers, Massachusetts Bank to Get an SBA Loan

Find Danvers, Massachusetts banks that specialize in business loans and know how to work with entrepreneurs. Danversbank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Lynn, Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Danversbank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: INVESTIGATION SERVICES
LYNN, MA 01902

SBA Loan Lender

DANVERSBANK
1 CONANT ST
DANVERS, MA 01923

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

561611 - Investigation Services

Loan Approval Date

11/9/2004

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $15,000 loan. Remember, feel the fear, and do it anyway.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Business Incubators

SBA Approved Banks in Danvers, Massachusetts

SBA Massachusetts Banks